Well it's not a 100% sure way, but I really don't see difficulty climbing fast enough to make the Cubes not hit profitability.  Difficulty has jumped 40% or more twice in the last year, both were last month, but since then it is bad to the normal range 15-30%.  So yeah, a few 40% increases and I could be eating it on this one.  A few 15-20% increases and I will make plenty of profit, and a 30-40% average should break me about even in a couple of months.

There are risks for everything, but I could easily buy the BTC to make up for anything the rig didn't cover.  I also have those LTC for that... but still, the point remains, that I could easily just take the unit point it towards my own address and get a free unit.  I'm not that way though, but there is no way to prove it.  My actions speak for themselves.  I can definitely be stupid, but I don't steal.

If not, it's no big deal at all!  Figured I'd throw it out there though in case someone is sitting on some BTC and too scared to invest it for any gains.

Is this Trade Fortress selling the code that he used to launder all of the Bitcoins he stole?

 

$60 for each miner, and then $400 for shipping?

Wowzah.

You are nuts!

No.

There was a failed Scrypt FPGA, and the ASIC development seems a bit far out there.

But, yes, if you are mining Bitcoin with a GPU, then you are wrong for it... plain and simple. 

No.  I am asking for someone to buy me a miner and I will use that miner to pay them back plus interest.  Then I will keep the miner and all of the profits.

It definitely seems pretty stupid, but if you aren't into mining or are too busy to take advantage of the Cube's potential this Holiday season, then it could be a good idea.  The main problem is the trust issue as I could easily just run off with your money and leave you with only my full name and address and an email that I have used since I was a teen. 

Do it!  Altcoin mining has been profitable for me and still is... to anyone that thinks it isn't, I'm only using 2 cards right now and pulling 600KH/s, but that is getting about .3LTC a day or about 9LTC a month.  At current rates that is over $360

I don't know how expensive your electricity is, but for my 850W PSU at $0.12/KWh that's only (24 * 30 * .85 * .12) $73.44 a month if it is actually pulling 850W from the wall (it is not) and it is on 24/7 (it is)...

so $286.56 profit to $73.44 expense...  seems like a good ratio to me!

All is well.  I had a stupid moment.  It was just not on my list of addresses, but I could still sign with it. 

One Cube.

Transaction ID: 1eddc03373eb1a8b7fad40b531a1cfbe28f71d75cb3d9471429ae2f0b5edff47

Will await label instructions.

EDIT:  Shit, I can't sign that address... lol what do I do now?

Sold Out!  I got my Cube.  Hopefully I can report back that I made some $$$BTCBTCBTC

Purpose:
Everyone says it is foolish to loan money for mining purposes.  I am trying to prove this idea right by trying to find a logical and mutually beneficial way to do this and coming up short.

Idea:
I currently am awaiting purchase of an ASIC Miner CUBE from CanaryInTheMine ( https://bitcointalk.org/index.php?topic=349787.0 )
I have several extra power supplies laying around the house to power these things, but not enough Bitcoins to buy additional units

Intent:
With the Cube that I purchase, I intend to mine with it for 2 months or until it makes less than 0.005btc per day or roughly $150/month, or around 5B difficulty, then attempt to sell it for BTC that will make BTCMined + SaleBTC greater than Cost of Cube + Cost of Electricity

Opportunity:
I could easily run two of these!  If you buy one from the group buy and send it to me, I'll pay the shipping, and host the device.  I will send all of the BTC from mining BOTH UNITS to YOUR address until you receive the payback that you deserve according to the schedule below:

My electricity cost is .12/kwh and according to http://mining.thegenesisblock.com/ these are expected to profit until May and should net 1btc EACH by the end of January.  However, if you accept this then you will be paid back in full plus interest before I see a satoshi from the devices!

Proposed Rates:
If I pay you back On or before January 4th, 2014 I will pay back 1.15btc, 15% interest on a one month loan isn't bad!  I'll admit this is a long shot, though.  It is likely that it will be close to this payback at this point, but I will likely be paying back between January 4th and 15th, which at that point I will go up to 20% interest.

Projected date of payback would early January as long as the delivery from the group buy is on time.  However, if it does not hit 1.2btc by January 16th, then I will pay you back 1.25btc. I see no reason for this to happen as the majority of the heavy hitters (multi-TH/s machines) are not coming out until March 2014.  

So with that said...  Why would you want to do this when you could just order yourself and make more back?  It's Christmas time and maybe you don't have the time to be running an ASIC right now and you don't want to go through the hassle of setting up.  Or maybe the Elves (wife) got Santa's workshop (the garage) a little "occupied" right now!

Collateral:
None.  If I had the collateral to get the BTC to get another unit, I would.  I have about 9LTC I could put up as collateral but that is not enough to foot the 1BTC I am asking for... I have been on these forums a bit and have done transactions in the past but this is worth more than them.  If no one takes me up on this offer, it's likely that I might actually make more money because i won't have to pay back any interest.  And please feel free to do this yourself!  These Cube's are likely a good investment if you get them right now.

March 2014 is so far away... high risk should mean high reward, but history makes us weary of the future...

https://bitcointalk.org/index.php?topic=349787.60

Buy it for 1BTC, run it for a little bit... you should be able to mine close to 1BTC + electricity costs in 2 months... then anything you can sell it for is profit.

Note:  It does come from a rare ASIC company that actually ships its orders out.

Put me down for a Cube. 

I need to figure out how exactly to get it running, now... is it simple? (IE - just plug it in to a computer and fire up BFGMiner)

Except that it is...

Buy a Cube, run it for 2 months, sell the Cube.  You will end up with more BTC than you started with.  I guarantee it.

Or it's because they are still living in a few months ago when Block Eruptors were 1BTC each.

Some of the newer ASICs look priced to profit.  That ASIC Miner Cube looks to be a great option right now, for example, but I'd rather just hold onto my coins.  

Looks like I got some posting to do...

It's not always unprofitable, but most people just look up the profit per day based on the hashrate and then calculate OnlineCalculatorSaidX$perDay*365 = MASSIVE PROFIT

But once you start factoring in electricity expected change in difficulty BEFORE you can actually start mining AND AFTER you start mining, then it becomes less profitable or unprofitable.

If you want profit right now, go get a GPU rig and mine Litecoins. They are at $39.71 a pop and you can get a decent chunk of them with even a 1-2MH/s machine.

Good luck man!  I'm pretty confident, but sometimes sports have a way of making you hate life.

I think we both come out winners tonight, though!

Mate, you are just asking too high of prices for the goods.  I know you don't want to get ripped off, but you are asking $200 for something that I can get a newer version of (v300 instead of v+200) for half the price (http://www.newegg.com/Product/Product.aspx?Item=N82E16820721107) at an online retailer that I know and trust. 

NBA Pick of the Week:

Dallas Mavericks v New Orleans Pelicans
Dallas Mavericks ML +111
risking 0.5292btc to win 1.1166btc

Opinion:
Mavericks beat the Bobcats last night and now have to travel 45 minutes by CubanAir to play the red-hot New Orleans Pelicans (really?  this name is better than Hornets?) coming off a 3W streak at home - because of this the Pelicans are favored.  I don't buy it.  On the Pelicans recent 6-2 stretch their six wins come against five teams that boast a whopping 26-64 record aka teams that have a winning percentage (28.8%) that's lower than President Obama's approval rating on a Fox News poll.

The Pelicans did have a good win on Monday against a Bulls team that will eventually be very good this year.  The other two playoff caliber teams they played, Golden State and San Antonio, both came up with the victory and the Spurs handed it to them pretty solidly with a 112-93 blowout.  The Dallas Mavericks haven't let many games get out of hand this season, aside from an early season loss to the Pacers (No. 1 East) and completely letting it slip away in the second half last week to the Nuggets (No. 6 West). 

History:
None. 0-0-0.  Going to try and do one or two NBA picks a week and a few NFL picks as well.  I usually see ones like this with odds that I just can't get away from.  If they do well I will continue to post.   I do have a positive betting history in terms of units since the beginning of April, although my overall win-loss is probably negative because I tend to look for big risk and bigger rewards.  I don't know the exact history, but the picks were not posted before the events occurred so therefore it would not be fair to post them in my overall history anyways.  Starting fresh!  NFL, MLB, and NBA are my three favorite sports.

-Sam